Hotel Online  Special Report

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Benjamin Franklin Hotel in San Mateo is Sold
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Colliers International Hotels Acts as Advisor to the Seller
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San Francisco, CA  - February 6, 2007 --  Colliers International Hotels announces that it has arranged the sale of the historic Benjamin Franklin Hotel in downtown San Mateo, California.

Bob Eaton, Mark McDermott, and Henry Bose of Colliers International Hotels advised the seller, AFE-Benjamin Franklin, LP on the transaction.  AF Evans Company, Inc. was the manager of the property.

Located in the heart of the thriving downtown business district, the landmark property has been closed since United Airlines terminated its lease in 2003.  The 99-unit, nine-story hotel opened in 1927, and includes the Astaria restaurant and lounge, retail space, outdoor swimming pool, and the dramatic two-story Fireside Room, the signature lobby area that opens onto the pool deck. 

The hotel was acquired by The Lembi Group of San Francisco.  The new owner plans to make a significant investment in the property, maintaining its historical elegance and integrating the operation into their extended-stay CitiSuite program.  The move takes advantage of the wonderful downtown location and amenities to serve corporate and leisure travelers.   

“The Benjamin Franklin hotel is simply a very special landmark property,” says Bob Eaton, executive managing director.  “The wonderful design of the building and the location in thriving downtown San Mateo provide something unique to the recovering peninsula lodging market.”  

About Colliers International Hotels
Colliers International Hotels has been a premier provider of specialized brokerage and advisory services to the hospitality industry since 1989.  Colliers International Hotels’ U.S. practice is headquartered in San Francisco, and expanded to Southern California with the opening of its Irvine office in early 2005.  Colliers International Hotels has additional North American offices in Canada and Mexico, and has global offices in Europe and Asia.  

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Contact:
 

Bob Eaton 
Executive Managing Director
(415) 288-7860
bob.eaton@colliers.com

Mark McDermott
Senior Vice President
(415) 288-7815
mark.mcdermott@colliers.com 

Henry Bose, Jr.
Vice President
(415) 288-7808
henry.bose@colliers.com
 

Also See: Holiday Inn Long Beach Sold; Colliers International Hotels Acts as Advisor to the Seller / December 2006
SOMA Hotel Portfolio in San Francisco, California Is Sold; Colliers International Hotels Acts as Advisor to the Seller / October 2006
Crowne Plaza Hotel in Pleasanton, California Is Sold; Colliers International Hotels Acts as Advisor to the Seller / September 2006
Embassy Suites Buena Park-Disneyland Area Sold; Colliers International Hotels Acts as Advisor to the Seller / July 2006


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